Romanian state-owned company Nuclearelectrica, which runs the Cernavoda nuclear power plant, plans to produce a total of 10.5 million MWh of electricity in 2014.

The company has signed a total of 38 contracts for the sale of electricity on the competitive market, which involves the delivery of a total quantity of 2.9 million MWh this year, at a weighted average price of RON 173.68 per MWh (or some EUR 38 per MWh), reads a statement from the company.

Based on a decision of Romania’s energy regulator (ANRE), Nuclearelectrica has to sell a total of 3.7 million MWh of electricity on the regulated market this year, meaning around 35.5 percent of the planned production, for a regulated price of RON 145.8 per MWh (or some EUR 32 per MWh).

In 2013, the electricity producer sold a total quantity of 5.3 million MWh of electricity on the regulated market, or some 49 percent of its production, at a price of RON 142 per MWh.

Nuclearelectrica recorded a turnover of some EUR 323 million (RON 1.42 billion) in the first nine months of 2013, up 19 percent year-on-year, and a net profit of EUR 75 million (RON 331 million), from loss in the same period of 2012.

The Romanian state is the major shareholder of the company.

Irina Popescu, irina.popescu@romania-insider.com